AlTi Global Inc. Sells 620 Shares of Deere & Company $DE

AlTi Global Inc. trimmed its position in Deere & Company (NYSE:DE) by 13.6% in the second quarter, HoldingsChannel reports. The firm owned 3,928 shares of the industrial products company’s stock after selling 620 shares during the quarter. AlTi Global Inc.’s holdings in Deere & Company were worth $2,028,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Mid American Wealth Advisory Group Inc. purchased a new stake in shares of Deere & Company during the 2nd quarter valued at approximately $25,000. Activest Wealth Management grew its holdings in shares of Deere & Company by 2,750.0% during the 1st quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 55 shares during the last quarter. Hughes Financial Services LLC bought a new position in shares of Deere & Company during the 1st quarter valued at $29,000. Cornerstone Planning Group LLC boosted its position in Deere & Company by 116.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company’s stock valued at $31,000 after buying an additional 36 shares during the period. Finally, Marshall & Sullivan Inc. WA purchased a new stake in Deere & Company during the 2nd quarter valued at $38,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on DE. Wall Street Zen raised shares of Deere & Company from a “sell” rating to a “hold” rating in a research report on Saturday, October 4th. Evercore ISI set a $491.00 price objective on shares of Deere & Company in a research note on Tuesday, August 19th. Daiwa Capital Markets reduced their price target on shares of Deere & Company from $565.00 to $530.00 and set an “outperform” rating for the company in a research note on Thursday, September 25th. JPMorgan Chase & Co. reduced their price target on shares of Deere & Company from $495.00 to $480.00 and set a “neutral” rating for the company in a research note on Tuesday, October 14th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Deere & Company in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $518.72.

Deere & Company Price Performance

DE stock opened at $473.01 on Friday. The company’s fifty day moving average price is $469.88 and its 200-day moving average price is $488.49. Deere & Company has a one year low of $387.03 and a one year high of $533.78. The company has a market capitalization of $127.87 billion, a PE ratio of 24.73, a price-to-earnings-growth ratio of 3.02 and a beta of 1.02. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, topping the consensus estimate of $4.62 by $0.13. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The company had revenue of $10.36 billion for the quarter, compared to analysts’ expectations of $10.33 billion. During the same quarter in the previous year, the business posted $6.29 earnings per share. Deere & Company’s quarterly revenue was down 9.0% on a year-over-year basis. On average, equities analysts anticipate that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th will be issued a $1.62 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.4%. Deere & Company’s dividend payout ratio is presently 33.87%.

Deere & Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.